• Chethan Machaknur

UK-based fintech Wiserfunding set to foray into India's MSME credit market

UK-based fintech Wiserfunding is set to make its entry into India launching its Artificial Intelligence (AI) backed cloud-based credit risk assessment tool to help banks provide loans to small businesses.

The announcement comes amid the impact of COVID-19 on small businesses in India where lenders have largely remained risk-averse in disbursing new credit to the MSME sector which Wiserfunding executives feel is because of “non-technology-based lending” where models have low prediction accuracy.

“India is a large market with 42.5 million SMEs and there is an urgent need for an unbiased credit risk assessment service that can provide the business credit score and risk profile of any company within a few seconds using the cloud-based platform,” Wiserfunding’s CEO and co-founder Gabriele Sabato said

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